Cryptoquant's Ki Young Ju Says Global Institutional Funds Will Drive Bitcoin (BTC) Cycle Peak

Ki Young Ju's Global Demand Thesis

Cryptoquant founder Ki Young Ju argues that the peak of the current Bitcoin (BTC) bull cycle will most likely be driven by institutional capital and ETF flows from outside the United States, not by American buyers alone. In an August 27 post on X, he stated that “the top of this bull cycle will most likely be driven by non-US institutional funds and ETFs,” shifting the demand question away from US spot funds toward markets where regulated Bitcoin access is still restricted. His thesis is about demand channels rather than a specific price target.

August 27 post on Xhttps://x.com/ki_young_ju/status/2092930758432190558

Korea is his primary example of untapped demand. The country has no domestic spot Bitcoin ETF, retail investors are barred from buying US-listed spot Bitcoin ETFs, and most companies still cannot open exchange accounts to purchase BTC directly. Korea has begun phasing in corporate participation, with the Financial Services Commission's roadmap covering roughly 3,500 listed companies and qualified professional investors, while financial institutions and other firms remain excluded. Ju frames the cycle top in vividly retail terms: “The peak of this cycle may come when a banker at a regional Korean bank recommends a spot Bitcoin ETF to an elderly lady for her retirement savings.” The SEC approved spot Bitcoin exchange-traded products on January 10, 2024, opening US regulated exposure through ordinary brokerage accounts, and Ju expects comparable access — plus deeper on-chain financial infrastructure — to expand globally in the next phase.

Stablecoins and Tokenized RWA Rails

Beyond ETF access, Ju cites stablecoin liquidity and tokenized real-world asset (RWA) infrastructure as supporting conditions for the next stage. Tokenization moves claims on assets such as government securities and private credit onto blockchain rails for issuance, settlement and transfer. Data from RWA.xyz as of August 29 shows tokenized asset value at $38.63 billion, up 2.65% over the past 30 days. Stablecoin total value stood near $303 billion, though Ju cautions that deeper stablecoin liquidity does not automatically translate into Bitcoin buying demand — it broadens settlement and market-access rails rather than injecting direct BTC bids.

The Bank for International Settlements (BIS) offers a more cautious structural view. In its 2026 report, the BIS acknowledged that stablecoins demonstrate real potential for faster, programmable payments but warned that current designs can create risks around financial integrity, stability and monetary policy. Its assessment concludes that expanding on-chain financial infrastructure does not by itself eliminate regulatory or operational concerns. Meanwhile, institutional readiness still has room to grow: Strategy's “Bitcoin Bank Adoption Index,” which scores 25 major institutions across trading, custody, digital-asset products, financing and corporate engagement, puts overall bank adoption at just 32%. Ju's bottom line: “So far this has been a US adoption story, but the next stage is global institutionalization,” with more institutions holding Bitcoin as a strategic asset and access improving in countries that still lack ETFs.

Week of Whipsaw Around Jackson Hole

His demand-side thesis landed after a volatile week for BTC itself. Bitcoin briefly broke above $81,000 on August 25, riding momentum from the US Treasury's announcement of Treasury bill buybacks, consolidated between $77,000 and $79,000 for two days, then reclaimed $81,000 on Thursday — a second visit to that level within the week. The advance reversed around Fed Chair Kevin Warsh's Jackson Hole speech, with BTC dropping below $77,000 before recovering to roughly $78,000 by Saturday afternoon, leaving a modest 1% weekly gain and Bitcoin on track for a monthly August close above 20%. Arch Lending co-founder and CTO Himanshu Sahay reads the BTC-gold correlation as a broader repricing of scarce assets rather than a simple debasement hedge: “Bitcoin is increasingly being traded within a wider macro framework, not purely on crypto-native narratives.” Readers tracking the market in real time can follow live spot and futures prices on MEXC.

COINOTAG Composite Read: $78,695 Wall in Play

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the immediate resistance at $78,695 at 87/100 — the strongest level on the board — driven by confluence from Ichimoku Tenkan, the R1 pivot, a low-volume node and Fibo 0.114, with spot at $78,043 and the RSI stretched at 70.75. A second wall sits at $82,184 (69/100, Fibo 0.000 and Donchian Upper), aligning with the $81,000 zone contested twice this week. Downside, the $77,808 support scores 78/100 from Flip R→S, Fibo 0.214, Pivot Point and a MACD cross, backed by a bullish MACD signal and an uptrend reading. Derivatives positioning is balanced-to-long: funding sits near neutral at 0.0031% per period, open interest stands near $15.2 billion, and the long/short account ratio is 55/45. With the Fear & Greed Index at 69 (Greed), a daily close above $78,695 opens the $82,184 test, while losing $77,808 invalidates the near-term bullish structure.